The Bitcoin Fear and Greed Index has been above the score of 80 for a number of days, confirming the sentiment of “extreme enthusiasm” in the crypto market. Among the varied triggering components of this optimistic temper is actually Donald Trump’s victory in the USA 2024 presidential elections.
Bitcoin: the Fear and Greed Index above 80 signifies a crypto market sentiment of “extreme enthusiasm”
Starting from November 12 as much as and together with at the moment, the Fear and Greed Index of Bitcoin has been equal to or better than the score of 80, indicating “extreme enthusiasm.” In reality, in the final 24 hours, this score has reached 88.
The Bitcoin Fear and Greed Index is an essential indicator of the sentiment each for BTC, but additionally for the complete crypto market.
In any case, this score began to rise instantly after Wednesday, November 13, when the value of BTC recorded the new All-Time High above $93,000.
At the time of writing, BTC is price $89,500 and the Fear and Greed Index score has returned to 80.
Bitcoin: the Fear and Greed index of the chief of crypto is “Extreme Greed”
The excessive enthusiasm for Bitcoin as of late is a consequence of what has been skilled since final November 6, when Donald Trump gained the USA 2024 presidential elections.
In basic, actually, we’re experiencing a real crypto rally that sees nearly all cryptocurrencies coloring their value charts inexperienced.
Looking then at the Ethereum Fear and Greed Index, the “extreme enthusiasm” zone arrived on November 12 with a score of 81.
And on November 12, the value of ETH exceeded the threshold of $3400, contemplating it began from $2400 simply the week earlier than. At the time of writing, ETH is price $3,099. However, this value is nonetheless very removed from its ATH reached in November 2021, at a value of over $4600.
The highest crypto Fear and Greed Index at the second is being recorded by Dogecoin, the memecoin par excellence supported by Elon Musk. In reality, all through the complete day yesterday, Dogecoin’s Fear and Greed Index was at “extreme excitement” with a score of 91.
At the time of writing, DOGE is price $0.37 and is in a pump of +200% in comparison with a month in the past. Not solely that, simply yesterday, the value of DOGE exceeded the threshold of $0.42.
The value of BTC at $100,000 by the finish of November?
While witnessing vital value will increase in crypto, accompanied by a sentiment of excessive enthusiasm, there are those that declare that the threshold of $100,000 for the value of Bitcoin (BTC) may very well be reached already by the finish of November.
Given that the earlier speculation of a Bitcoin ATH above $90,000 after Trump’s victory has change into a actuality, it shouldn’t be underestimated that the value of BTC might proceed to rise till it reaches the fabled 6 figures.
Analyzing the knowledge, one would possibly assume some timeframes wherein different bull dynamics might happen.
The first date to maintain underneath statement is November 18. For some analysts, the present bullish part might finish by that date, and due to this fact it might be essential to examine if BTC surpasses $100,000 throughout that weekend. Alternatively, analysts imagine that every part may very well be postponed to December.
In reality, the second date is exactly the first of December which, as occurred final 12 months, might begin a brand new bull part.
